Total beverage industry deals worth $88.8m were announced globally for October 2021, with the $35m venture financing of Cometeer being the sector’s biggest investment, according to GlobalData’s deals database.

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The value marked a decrease of 95.6% over the previous month of $2.01bn and a drop of 96.5% when compared with the last 12-month average of $2.51bn.

In terms of number of deals, the sector saw a drop of 40.82% with 29 deals in October 2021 when compared to the last 12-month average of 49 deals.

In value terms, North America led the activity with deals worth $43.96m in October 2021.

beverage industry deals in October 2021: Top deals

The top five deals accounted for 87.4% of the overall value during October 2021.

The combined value of the top five deals stood at $77.56m, against the overall value of $88.8m recorded for the month.

The top five beverage industry deals of October 2021 tracked by GlobalData were:

1) Addition Ventures,Avenir,D1 Capital,Elephant Venture Capital,Greycroft Partners,Tao Capital and TQ Ventures $35m venture financing deal with Cometeer

2) The $29.66m acquisition of Kernke Family Shene Estate by Lark Distilling

3) Sixth Sense Ventures $6m venture financing deal with Storia Foods & Beverages

4) The $3.5m venture financing of Tru by Btomorrow Ventures

5) DASAN Networks,Magellan Technology Investment and T Investment $3.4m venture financing deal with The Cerlite Brewing